Best Car Insurance Companies for Senior and Elderly Drivers

It’s a beautiful day as your family prepares for your 65th birthday celebrations. You have worked hard all your life and plan to retire in a couple of days. It’s finally time to sit back and chill. You’re thrilled that you’ve entered the senior citizen category and can now enjoy the benefits of being a senior citizen. The thought of saving so much on such services is delighting but when you check best car insurance for seniors, you notice that all the savings are being eaten up by the high auto insurance premiums.

The reason the standard coverage increases as you get old is that senior drivers are considered riskier than young drivers because of certain age related changes. This age group is not trusted as their senses weaken, reflexes slow down and some maybe even suffering from diseases that hinder them to function normally. So companies tend to increase the premiums in order to compensate for the high risk of accidents.

What is the best car insurance for senior citizens?

You might be surprised to know that you could save a lot by carefully choosing the right auto insurance option by keeping a number of factors in mind. So to ensure that you are paying the minimum amount for your auto insurance, you can take the following steps

Update your driving style

As you retire, you are no longer required to drive to work every day. Your vehicle would probably be used only for leisure activities which mean that the number of miles driven would decrease drastically.

This needs to be updated to your insurer so that they can offer you discounts.

Take up a course

Another opportunity driver for mature drivers is that they can take a defensive driving course and get discounts on their auto insurance. In this way, you can also polish your driving skills and be much safer.

Look around for age discounts

When you enter the senior citizen age bracket, various insurance companies offer discounts based on your age, you should look out for such offers.

Pay in full

You can save up on service charges by paying the whole amount annually.

Multi-vehicle & Multi-line discount

Insurance companies offer huge discounts on packages. These could be in the form of multiple vehicles or having the same insurer for multiple insurances which could include your home, car, etc.

With a large number of insurance companies available today, it can be complicated to choose the best fit you as no one insurer can be the best for everyone but we have narrowed down some of the best insurance companies targeted towards senior citizens.

GEICO

At the first option, we have an insurance company with the cheapest rates in the market that goes by the name of GEICO. The company specifically targets older people aged 50 and above as it offers the feature of automatic renewal for such segments. Along with that, the company offers discounts to those that complete a defensive driving course or have an excellent driving status for the past 5 years along with other conditions (you can get up to 25% discount if your driving history is clean). You can also get discounts on bundling your cars or other policies up to the same percentage. Another excellent feature GEICO offers for its older segment is that it automatically provides accidentalforgiveness which is much useful for older people that are more likely to get in an accident.

Metromile

Metromile is considered as one of the best options for seniors as most of them retire from their jobs and use their vehicles for only leisure purposes. This is the ideal fit for such type of people because its pricing model is formulated in a way that you only have to pay when the wheels are running. You don’t have to pay a high premium when you don’t even use your car that much. Metromile considered such a segment and made a plan for people that travel less than 10,000 miles per year. Along with this, you get additional perks including a device that notes the car’s mileage, assists you in finding where you parked your car, alerting you with the parking times, etc. The only drawback this company has is that it is only available in some states of the US.

USAA

If you or your significant other are serving in the military or were a part of it, then you don’t need to look around for the best auto insurance options. USAA is known as the best for veterans and that claim is supported by many satisfied customers. You’ll get the cheapest rates here along with excellent customer service. The company offers various discounts including a senior bonus, multi-car & multi-policy discount along with the option of being charged based on the mileage of the car.

Allstate

As you grow older, your senses start to weaken with time so it becomes difficult to do even the simplest of tasks like driving a car. This leads to an increase in the risk of accidents and this is the main reason companies charge more to such customers. But that isn’t the case for every senior citizen. If you are confident of your driving skills and are physically/medically fit with no chronic disease then you should definitely consider this option. If you are a senior that is extra cautious then this might be the right place for you. The rates are relatively high but the discounts make up for it. You can get senior discounts, accidental forgiveness, and so much more.

So you see that you don’t need to pay so much for your auto insurance as you grow older. You just have to figure out what’s the best for you according to your lifestyle and you would be saving so much. Save up and go on a vacation.

If none of these companies seem to fit your preferences then you could consider looking into the following

  • The Hartford
  • Dairyland
  • Amica Insurance
  • Chubb
  • Hagerty
  • State Farm

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